Oppenheimer raises stake in DLF to 7.3%, buys 51 lakh shares

OppenheimerFunds, registered as an FII in India, bought 50,99,048 shares, representing 0.29 per cent stake, from open market on January 8, according to a regulatory filingPTI | Updated: January 13, 2016, 08:31 IST

In November last year, promoters of DLF, the country's largest real estate firm, bought 23 lakh shares of the company through open market transactions for nearly Rs 25 crore, raising their stakes to 74.99 per cent.

DLF has a land bank of about 300 million sq ft, of which nearly 50 million sq ft is under construction.

Last month, DLF received Rs 1,992 crore from Singapore's sovereign wealth fund GIC, thereby completing the deal to sell 50 per cent stake each in two upcoming projects in the national capital.